Staying Positive in the Gloom; European Biotechs Muddle Through Despite Lack of VC

DUSSELDORF, Germany – BIO-Europe Fall 2011 entered its final day as Europe's financial system teetered on the brink – yet again – following Greece's shock decision to put its recently agreed bailout package to a popular vote. Although the issues facing Europe's biotechnology industry seem pretty minor in comparison, a definite sense of gloom has pervaded many of the discussions here at BIO-Europe.

For all but the chosen few who have secured the best investment deals and the juiciest alliances, conditions are far from ideal.